FTX’s crypto mining venture is now used to advance AI
Summary
SWI Group raised about $900 million to expand AI computing and data-center capacity in Europe and the United States. Its plans include SWI Digital, formerly Genesis Digital Assets, the Bitcoin mining company in which SWI says it holds a 70% stake. SWI announced a $500 million acquisition of a significant shareholding in Genesis in June. The company says Genesis had 15 facilities with 1.3 gigawatts of capacity. Genesis was among the assets linked to FTX’s collapse; SWI’s CEO says legal disputes concerning FTX’s stake have been resolved.
